: success stories

Reorganizing a mortgage loan department for increased production

SITUATION:

A large SC thrift's loan offerings needed a competitive edge as increased competition from out-of-area banks and boutique mortgage brokers arrived in the market, threatening fee income and market share.   Loan production had leveled off and brokers weren't happy with the product and the turnaround time.

SOLUTION:

A reorganization of the mortgage loan department was in order. We sent our MAPS consultant into the loan department for two weeks to track and chart the work flow and loan management system.   From there, we recommended new systems to put into place and helped the client develop new policies, procedures and training manuals. A new call program for brokers was designed and implemented along with an incentive payment system. Simultaneously, the Fair Lending compliance program was examined and revised.

RESULT:

Within one year, loan production jumped six-fold.   Fee income and market share reversed course and scored impressive gains.

 

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